Board Meeting - April 17, 2000

SEE MEETING MINUTES

H. Moscoe (Chair), R. Davis (Vice-Chair), G. Lindsay Luby, D. Miller, C. Korwin-Kuczynski, and J. Mihevc (Commissioners), R. Ducharme (Chief General Manager), V. Rodo (General Manager – Executive & General Secretary), G. Webster (General Manager – Operations), J. Sepulis (General Manager - Engineering & Construction), L. Hilborn (Deputy General Manager - Corporate), B. Leck (General Counsel), M. Stambler, (Manager - Service Planning), M. Roche (Chief Financial Officer), P. Buttigieg (Chief Accountant - Financial Services), W. Buffett (Assistant General Secretary) and A. Patrone (Administrative Coordinator) were present.

R. Davis was in the Chair.

H. Moscoe assumed the Chair at 1:00 p.m.

G. Vollebregt and J. DiLallo, Finance Department, City of Toronto were present.

1. Budget Advisory Committee Recommendations
• April 14, 2000 - TTC 2000 Operating Budget

R. Ducharme, Chief General Manager provided an overview of the TTC's 2000 Operating Budget which was developed on the basis of a commitment made by City Council in 1999 for a three year plan with subsidy levels being maintained at $149.0 million.

V. Rodo, General Manager - Executive & General Secretary then reviewed the recommendations of the City Budget Advisory Committee from its meeting on Friday, April 14, 2000, and the resultant impact to the Commission's budget.

Vice-Chair Davis Moved That The Commission Undertake An Education Campaign, With The Assistance Of TTC Staff, For Members Of City Council, As To What Was Agreed To Last Year By City Council, With Respect To Subsidy Levels And The Implementation Of A Three Year Plan For The Commission's Operating Budget.

Commissioner Miller Moved The Following Resolutions:

1. Thank The Budget Advisory Committee For Recognizing That The Original Toronto Transit Commission Budget Proposal Approved By The Committee And Contained In The April 11, 2000 Memorandum From The Budget Advisory Committee Chair Was Unacceptable To The Commission.
2. Request The Policy And Finance Committee And City Council To Recognize That The Intent Of The Toronto Transit Commission Fare Stabilization Reserve Fund Was To Stablilize Funding, Particularly, As A Result Of The 1999 Fare Increase, And That Council Requested That The Operating Subsidy Be Maintained At 20%.
3. Advise The Policy And Finance Committee That It Is The Commission's Position That The 2000 Operating Subsidy Remain At $149 Million, And That The Fare Stabilization Reserve Fund Be Available For The City To, In Effect, Borrow For The Year 2000 City Budget, Subject To Being Repaid, As Required, To Ensure There Be No Fare Increase Or Service Cuts In 2001.

Chair Moscoe Called For A Vote On The Motions Put Forward By Vice-Chair Davis And Commissioner Miller.

The Commission Approved The Motions On A Unanimous Vote.

Commissioner Mihevc was not present to vote on the motions.